Vol 4 Ed 1

Volume 4 Edition 1 Newsletter

Online at http://www.financialcareservices.com.au/newsletters/vol-4-ed-1

FINANCIAL CARE SERVICES
Independent aged care, lifestyle and financial advice for seniors
Volume 4 Edition 1 –30 January 2014

Hello

Welcome to 2014

Was your New Year Resolution to take a more active interest in your parents’ wellbeing?

If they are not coping well with the summer heat and are at risk of becoming dehydrated then maybe it is time for you to offer them more ‘in-home care’ or for them to move into a supported home environment.

Centrelink Benefits for full time Carers

Centrelink Carer Payment and Carer Allowance are fortnightly payments to adults who are engaged in providing constant care to an adult with a substantial level of disability or is frail aged. The maximum Centrelink payment for a full-time carer is equivalent to the Age Pension and subject to the same means testing as the Age Pension.

If you were thinking of leaving full-time work to be the carer for your frail family member read about the Centrelink Carer Payment and Carer Allowance benefits as part of your planning at http://www.financialcareservices.com.au/christine-hopper-insights/centrelink-adult-carer-payment/.

Planning for Permanent Residential Aged Care in 2014

February is a good time to be looking for a permanent residential aged care place. New beds are being opened after the holiday season whilst many potential residents are quite happy and healthy at home just now thank you.

Before you even enquire about aged care bed availability consult Christine at Financial Care Services about Aged Care Asset Assessments and Accommodation Bonds.

Remember that you are more vulnerable to excessive Accommodation Bonds if you have already disclosed your Asset Assessment: you cannot ‘undisclose’ asset values later.
Read about the risks of excessive Accommodation Bonds at http://www.financialcareservices.com.au/christine-hopper-insights/agree-an-additional-amount-of-accommodation-bond/

Your planning for the overseas holiday of a lifetime should factor in the possible suspension of your Centrelink benefits and Commonwealth Seniors Health Care Card

Respite care is popular in February and March. Once the grandchildren have returned to school, the seniors could take some respite from caring for their elderly dependants also.
A holiday could revitalise the seniors in preparation for another year as the family care givers. Travel within Australia offers fantastic scenery and exciting activities without losing your Centrelink Pension, Commonwealth Seniors Health Care Card or Medicare coverage.

When you travel overseas your departure from Australia will be noted at Centrelink and DVA and their clocks will start ticking. So before you book that overseas holiday of a lifetime think about the Centrelink and DVA implications of your absence from Australia.

Six weeks absence from Australia is fine if you have not been out of the country recently. But a longer absence could cause your Centrelink payments to be cut. Read more about the impact of overseas stays on Centrelink Age Pensioners, DSP recipients and Commonwealth Seniors Health Care Card holders at http://www.financialcareservices.com.au/christine-hopper-insights/centrelink-benefits-for-seniors-absent-from-australia/

Was your New Year Resolution to consider early retirement?

The minimum age to qualify for an Age Pension is currently 65 years for men and women.

If you choose to early retire then you might be eligible for a Low Income Health Care Card.
People who are under Age Pension Age and not financially ready to retire but cannot find a job might be eligible for a Centrelink income support benefit. Centrelink pay the Newstart Allowance as a temporary income for people between jobs.

The Disability Support Pension is for people who are blind or permanently unfit to work at least 15 hours per week. Read more about Newstart Allowance and Disability Support Pension for Australian residents under age 65 years at http://www.financialcareservices.com.au/christine-hopper-insights/centrelink-early-retirement-benefits

Ask Christine Hopper for financial advice before you choose to early retire or accept a redundancy/retrenchment package.

Christine at Financial Care Services can help you consider the financial implications of your options. A confidential discussion of your personal financial position and potential Centrelink benefits would help you plan with confidence.

Financial Care Services offers short (45 minute) consultations to just look at Age Pension and Carer Payment means testing for $99. Full consultations are needed to consider Pension eligibility and retirement planning issues.
Call Financial Care Services on (03) 9808 0338 to book an appointment.

If you would like further confidential, independent and professional advice about Centrelink, lifestyle or financial advice, please contact Christine Hopper (03) 9808 0338.

____________________________________________________

Christine Hopper

Director
Financial Care Services Pty Ltd
Independent aged care, lifestyle and financial advice for seniors in Melbourne, Victoria, Australia
Australian Financial Services Licence Number
299570 (check this at www.search.asic.gov.au/fsr/flb.html)
Authorised Representative Number
252529 (check this at www.search.asic.gov.au/fsr/far.html)

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Disclaimer: The information contained in this newsletter is of a general nature only and does not constitute “financial advice”. You should obtain your own personal financial advice before investing any money or moving in to any retirement village, lifestyle community or aged care facility. Financial Care Services is licensed to provide financial advice to individual clients based on their personal situations.